- Metal Bank (MBK) intersects up to 35.4 g/t gold at the Kingsley East target within its Livingstone gold project in WA
- This result comes from a hole drilled 750 metres east of the current resource area and the company says it highlights potential for resource growth
- Metal Banks also receives assays for two other holes which add confidence to the continuity of the mineralisation, to infill the current resource envelope and highlight additional depth potential
- Further results are expected in the upcoming weeks and will aid Metal Bank in understanding the true strike extent of the Kingsley mineralised system
- Metal Bank shares are down 20 per cent, trading at 0.4 cents at 2:18 pm AEST
Metal Bank (MBK) has intersected up to 35.4 grams per tonne (g/t) gold at the Kingsley East target at its Livingstone gold project in Western Australia.
This result came from hole KE22RC005 which was drilled 750 metres east of the current Kingsley gold resource.
This gold grade was seen over one metre within a slightly broader two metres at 18.15 g/t gold from 54 metres.
Other results from this hole include four metres at 4.09 g/t gold from 12 metres and two metres at 1.9 g/t gold from 46 metres.
These results extend a known supergene gold zone in the upper saprolite and identify a potential high-grade primary source within fresh rock.
The company also said intersecting high-grade gold 750 metres east of the current resource highlights resource growth potential.
Metal Bank also received results for holes KL22RC002 and KL22RC004 which intersected three metres at 9.07 g/t gold and one metre at 2.3 g/t gold, respectively.
These results add further confidence to the continuity of the mineralisation at Kingsley as well as infill the current resource envelope and highlight additional depth potential.
Further results are expected in the upcoming weeks and will aid Metal Bank in understanding the true strike extent of the Kingsley mineralised system.
Phase two drilling is set to begin this month.
“We are also excited to identify high-grade zones, near surface, within the Kingsley deposit as we build a robust resource base at Livingstone within this renowned gold mining area,” Chair Inés Scotland said.
“We are looking forward to receiving the remaining assays and commencing phase two of
our exploration campaign at Livingstone in August.”
Metal Bank was down 20 per cent on the market with shares trading at 0.4 cents at 2:18 pm AEST.